Nelo
“Can a BNPL-first consumer credit platform become the go-to credit product for Mexico's underbanked population by embedding flexible installment payments into every digital commerce and bill-pay touchpoint?”
Founded by former Uber international growth leads, Nelo launched as a BNPL checkout product for Mexican e-commerce merchants, targeting the underbanked population using CURP and INE for onboarding. The company evolved from a merchant-embedded checkout experience into an all-in-one consumer credit app with utility bill splitting, cash withdrawals, and a Mastercard-powered physical card. The $100M VPC credit facility in 2022 marked a shift toward scaling the consumer lending book, and the subsequent launch of a physical card plus Google Wallet integration positioned Nelo as a broader consumer credit platform rather than a pure BNPL point-of-sale player.